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Global financial markets posted mixed performance in May, as many countries & economies began to emerge from the pandemic quarantine and inflationary pressures began to arise. Global equity markets were also mixed with gains in large cap and Energy sectors offset by weakness in Technology; European and Asian equities also gained. US interest rates were basically unchanged while inflationary pressures increased, the US dollar declined. Energy & Metals commodity gains were led by Gold, Silver and Oil. The HFRU Hedge Fund Composite Index gained +0.92% in May.

HFRU Equity Hedge Index gained +1.12%
HFRU Event Driven Index posted a gain of +0.54%
HFRU Macro Index gained +0.88%
HFRU Relative Value Arbitrage Index gained +0.46%

Comments reference performance as of May 31, 2021